FDI attraction in Quang Nam
(QNO) - FDI (Foreign Direct Investment) in Quang Nam has improved. Provincial leaders are making efforts to promote investment and attract foreign investment in priority sectors.
Efforts to attract FDI
As of October 2024, Quang Nam hosted 246 FDI enterprises with 201 ongoing projects and a total registered capital of USD 6.35 billion. FDI businesses contribute an average of 1,100 billion VND in taxes annually and provide approximately 61,000 jobs for locals.
Guoguang Electric is among the successful FDI enterprises in Quang Nam.
By early 2024, the company expanded its operations in the Dien Nam - Dien Ngoc Industrial Park (Dien Ban). Its output went up from USD 150 million (2023) to over USD 600 million, providing jobs for approximately 10,000 locals.
At the Chu Lai Open Economic Zone, several major FDI projects have been licensed, including SGI Magnetic (South Korea, $39.3M), Uc Thinh Glass Manufacturing (China, $35M), and Karcher Cleaning Equipment (Germany, $21.3M).
Currently, it is advancing a USD 150 million wind turbine blade project, while Hyosung Group (South Korea) plans to expand its fabric plant investment from USD 210 million to USD 1.34 billion.
FDI businesses appreciate Quang Nam’s support
Quang Nam’s proactive support for FDI enterprises has earned their trust, which makes them a channel to attract more investors to the province.
Karcher praised the province’s assistance, enabling exports to major markets. Hyosung also highlighted the provincial collaboration, ensuring smooth operations and building investor confidence. These efforts position Quang Nam as a favorable destination for FDI projects.